Dáil Éireann Debate, Wednesday - 14 January 2015
178. Deputy Michael McGrath asked the Minister for Finance the cost to the State of reducing excise duty on petrol and diesel by 10% in each case; the impact per litre, including VAT, this would have on the retail selling price ceteris paribus; and if he will make a statement on the matter. [1742/15]
View answerI am informed by the Revenue Commissioners that the estimated annual Exchequer cost of reducing the excise duty on petrol and diesel by 10% is around €96m and €127m respectively. The impact per litre is shown in the following table:
|
|
Current |
Total Excise & Carbon |
Average Price |
|
|
Average Price |
Reduction |
Less Reduction |
|
|
Per Litre |
(VAT inclusive) |
Per Litre |
|
|
Cent |
Cent |
Cent |
|
Petrol |
129.9 |
7.2 |
122.7 |
|
Auto-diesel |
121.9 |
5.9 |
116.0 |
